By THE NEWSMAN OF INDIA.COM|The Financial Services Institutions Bureau (FSIB), the body responsible for recommending leadership appointments in financial sector institutions, has put forward the name of R. Chander for the position of Managing Director in Life Insurance Corporation of India (LIC).

On September 30, 2025, FSIB conducted an interface with five shortlisted candidates from LIC for the MD position. The candidates were evaluated on multiple parameters, including professional performance, leadership qualities, domain expertise, and alignment with organizational goals.

After thorough deliberation, the Bureau concluded that R. Chander’s track record, experience, and leadership acumen made him the most suitable choice for the role. The recommendation has been formally submitted to the government for necessary approval.

The appointment of the MD is a crucial decision for LIC, India’s largest insurer, as the institution continues to expand its footprint in domestic and global markets. With evolving regulatory challenges, digital transformation, and the growing competition in the insurance sector, the role of the MD will be central to steering LIC’s growth strategy.

FSIB, since its inception, has played a key role in strengthening leadership selection processes in the financial services sector. The Bureau’s transparent and performance-based approach is intended to ensure that public sector institutions are guided by capable and visionary leaders.

R. Chander’s appointment, once cleared by the government, is expected to bring renewed focus to LIC’s modernization and customer-centric initiatives, while also enhancing its position as a trusted financial powerhouse.